MP, Chair of the Business,
Energy and Industrial Strategy Committee, has written to a range
of companies to ask about their payment practices as part of the
Committee’s small
businesses inquiry.
The letter has been sent to businesses from different sectors of
the economy, including retail, recruitment and construction, as
well as companies in the leisure sector and football clubs.
MP, Chair of the Business,
Energy and Industrial Strategy Committee, said: “The problems
caused by late payments from large suppliers are well publicised
and we know they can often have a devastating impact on small
businesses. We are now writing to firms from a range of different
sectors so we can get a better understanding of normal payment
practices and how these big firms treat the small suppliers who
are the lifeblood of the UK economy.”
The letter asks for information on the companies’ adherence to
the Prompt Payment Code and how long it takes to pay suppliers.
It also requests details on retention payment policies and
invoicing.
Editor’s note
The Committee has written to the following companies: Arcadia,
Aston Villa FC, Barratt Developments PLC, Boots, Britvic soft
drinks, Capita, GE, GSK, G4S, Holland and Barrett, Manchester
City FC, Manchester United FC, Nike, Punch Taverns (Branston)
Limited, Reed specialist recruitment limited, Robert Dyas,
Siemens, Thomas Cook plc, Waitrose, Warner Music, Waterstones, WH
Smiths and Yodel Delivery Network Limited.
